Innovation lecture 8

Question 1

Reciprocation

Answer 1

People want to give back to us what we have first given them

Question 2

Social proof

Answer 2

When uncertain, people want to look around to see what others are doing before they act

Question 3

Scarcity

Answer 3

When things are dwindling, and we want things that we can’t have

Question 4

Commitment and consistency

Answer 4

People want to be consistent with what they already committed to

Question 5

Authority

Answer 5

People want to follow the lead of legitimate experts

Question 6

Liking

Answer 6

We prefer to say yes to those we know and like

Question 7

Brand launch

Answer 7

Used when a company has created a new brand and wants to increase awareness

Question 8

Brand awareness

Answer 8

A brand awareness campaign is one in which marketing efforts focus on building the awareness of a company brand

Question 9

Product launch

Answer 9

Launching a new product involves marketing campaigns aimed at spreading awareness of the product and why customers need it

Question 10

Advertising

Answer 10

Tv, radio, print, call/mail, billboard and posters, social media

Question 11

Owned media

Answer 11

Media channels controlled by brand

Question 12

Earned media

Answer 12

Consumers communicate about brand

Question 13

Sales promotion

Answer 13

Short term incentives to encourage trial or usage of product or service

Question 14

The ideal campaign

Answer 14

Reaches right consumer 
Creative ad
Ad reflects 
Ad positions 
Ad motivates 
Ad creates strong associations

Question 15

Coverage

Answer 15

Proportion of audience reached

Question 16

Contribution

Answer 16

Create desired response and effect

Question 17

Commonality

Answer 17

One package consistent and cohesive brand image and brand association

Question 18

Complementarity

Answer 18

Robust and effective for multiple groups

Question 19

Advantages IMC

Answer 19

IMC produces stronger messages and greater sales impact. Assigns responsibility to unify the company brand images

Question 20

8 essentials for brand communication

Answer 20

Address they key business issue 
Build consistent long term brand equity 
Be focused on single minded strong idea 
Be highly visible 
Be locally relevant to core target 
Be likable 
Be exceptionally excellent 
Bring about a sale